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LEASES (Tables)
 6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Schedule of Lease Cost
The components of operating lease cost were as follows:
Three months endedSix months ended
(Dollars in thousands)June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Operating lease cost (1)
$4,452 $4,723 $8,424 $9,516 
Sublease income(29)(32)(61)(81)
Net lease cost$4,423 $4,691 $8,363 $9,435 
(1)Includes variable lease cost and short-term lease cost.
Schedule of Balance Sheet Information
Supplemental information related to operating leases was as follows:
(Dollars in thousands)June 30, 2024December 31, 2023
Right-of-use assets$136,669 $130,601 
Lease liabilities$160,068 $151,596 
Lease term and discount rate
Weighted average remaining lease term (in years)12.9113.01
Weighted average discount rate5.25 %5.20 %
Schedule of Lease Maturities
Maturities of operating lease liabilities were as follows:
(Dollars in thousands)June 30, 2024
Remaining in 2024$9,423 
202518,690 
202617,945 
202716,584 
202816,601 
After 2028145,418 
Total lease payments224,661 
Less: Interest(64,593)
Present value of lease liabilities$160,068 
Schedule of Supplemental Cash Flow Information
Supplemental cash flow information related to operating leases was as follows:
Three months endedSix months ended
(Dollars in thousands)June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$4,762 $5,134 $9,483 $10,194 
Schedule of Direct Financing Leases
The components of direct finance lease income are summarized in the table below:
Three months endedSix months ended
(Dollars in thousands)June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Direct financing leases:
Interest income on lease receivable$15,815 $13,136 $30,615 $25,518 
Interest income on deferred fees and costs, net(1,890)(1,450)(3,682)(2,836)
Total direct financing lease net interest income$13,925 $11,686 $26,933 $22,682 
Equipment leasing receivables relate to direct financing leases. The composition of the net investment in direct financing leases was as follows:
(Dollars in thousands)June 30, 2024December 31, 2023
Lease receivables$745,572 $721,338 
Unearned income(121,401)(114,341)
Deferred fees and costs19,349 16,625 
Net investment in direct financing leases$643,520 $623,622